Ways Retired People Can Make Money

Slide 1Money
Overview
Just because you’re retired doesn’t mean you want to abandon work completely. Your
reasons for wanting to work may be to supplement your retirement income or because
working enhances your life socially or emotionally. On the employer side, seniors can
offer a deep reserve of perspective, emotional intelligence, skills and contacts -- all
things that retirees can emphasize when looking for a job.
Having an additional source of income can significantly improve your life as a retiree.
Regardless of your personal situation after retirement, knowing how retired people can
make money may help you generate some extra income. You can use your interests or
expertise to make money in a variety of ways after you retire. In this article, we discuss
several ways in which retired people can make money.
Rent Your Space
You can rent a room or your entire home by the night, week, or month. Cash in on
that next event your city hosts!
Get Paid for
Copywriting
You don’t need to be a novelist to write copy. Turn your words into cash at a variety
of websites like LinkedIn, Copify, ProBlogger, or Indeed.
You can also use Upwork to look for editing, copywriting, and other creative jobs.
Animal
caretaker
Retirees can make extra money indulging in their love for animals and pet care,
whether it’s dog walking, grooming or pet sitting when owners go on vacation or
travel for work. Make sure the line of work is compatible with your level of strength
and fitness -- dog walking requires strength and stamina, and grooming sometimes
requires heavy lifting.
Tour guide
Whether you already have experience as a tour guide or not, part-time work as a tour
guide may be a great fit for art, food, celebrity or history buffs -- or someone who
knows a lot about a city’s architecture or history. A part-time tour guide position will
allow you to share your knowledge with others and interact with locals and tourists.
Freelance in
expertise
If you have expertise in a certain field, you can use your acquired skills, experience,
and knowledge to work as a freelancer. Most freelance roles are highly flexible,
allowing retirees to choose their working hours and still have time for personal
matters. Also, most freelancing roles are remote, meaning that you rarely have to
travel to the workplace. You can find freelancing positions within your field of
expertise by reaching out to your professional network or by using online job
websites.
Tutoring
If you have a skill that others may be interested in acquiring, you can teach clients
either face-to-face or over the internet. Besides retired teachers, anyone with a
successful background in a particular field can find others who want to enter that field
and teach them basic and advanced concepts. You can contact potentially interested
people directly or use a skill-sharing website to share your knowledge.
Manufacture and
sell handmade
products
If you can craft various items or foods at home, you can consider supplementing your
income by selling them online. There are dedicated websites that sell vintage or hand-
crafted goods, allowing you to use a passion or hobby to make money. Some of the most
common ways to do so are by knitting, baking, making jewelry and crafting various
decorative items.
Take paid
Various organizations connect companies looking to get feedback on their products and
services with people who are willing and able to provide them. You can therefore make
money as a retiree by taking surveys on a wide variety of topics, helping companies get
information regarding their products and their target audiences. You can find these
opportunities online by visiting dedicated websites.
Become a
virtual
assistant
If you have experience working in a corporate environment, you can become an online
virtual assistant. They usually work for individuals or small companies and handle
various tasks that their employers don't have the time or disposition to do themselves,
like managing social media profiles, setting up meetings, providing customer support
and performing general administrative tasks. There's usually a high demand for virtual
assistants, and you can find open positions on remote job websites.
Work as a
specialist
You can perform customer support roles from home with the help of an internet-
connected device and a microphone. The role usually involves responding to customer
queries and feedback via phone, email and social media. Most remote customer
support specialist positions have flexible schedules, allowing you to choose the number
of hours you want to work each day. The most appropriate domain in which to look for
customer support roles is usually in your area of expertise before retiring.
Become a
writer
There are several ways to make an additional income by writing online. One of the most
straightforward ways is to become a content writer or copywriter in a domain with
which you're familiar. You can also start a blog and monetize it by adding advertisements
or promoting various products. If you have a good understanding of the English language
and its grammar, you can also become a freelance online proofreader. Self-publishing an
ebook can also be an appropriate way of generating extra income.
Sell some of your
items online
If you have many objects around the house that you don't need anymore but may be useful
for someone else, consider selling them through dedicated online websites. Items such as
art, jewelry, clothes, tools and furniture can be in high demand on internet marketplaces
and can bring you a significant amount of money. If you have the time and skills, you can
also refurbish used items and increase their asking price.
Work as an English
teacher
If you're a native English speaker, you can use it to supplement your income by teaching
English to others. English is an important tool for communication all over the globe,
meaning that a large part of the global population can speak it or would like to. There
are many websites that connect native English speakers with people who would like to
learn the language.
Be a mock juror
If you dreaded jury duty during your corporate days, you’re definitely not alone. However, here’s a
type of jury duty you won’t hate.
You can get paid anywhere from $10 to $60 per hour to help lawyers prepare for cases by serving
as a juror in online mock-trials through sites like OnlineVerdict. Once you answer a
questionnaire with basic demographic and geographic information, you’ll be invited to be a mock
juror on cases for which you’re eligible.
Become a
career coach
Make those corporate years count! Share your hard-earned career advice and interview
tips with those at the beginning of their careers. If you don’t want to go to the trouble
of starting and building your own career coaching business, career guidance platforms
like The Muse do the heavy lifting for you by connecting you with potential clients.
Sell Your Photos
With the widespread availability of low cost, high-grade digital cameras, photography
has become a way to earn an income that’s within the grasp of people who don’t want
to make a significant financial investment, or who don’t have a specialized qualification
or background.
Gallery
No matter where you plant roots in this great, wide world, you’ll find expats with a
desire to try their hand at artistic expression. Perhaps you are one yourself. What you
might not find in your new overseas home are businesses that showcase art…or
studios that have art classes and retreats.
Open a Café
Coffee’s prevalence has created a thriving worldwide industry, and there are ample
opportunities to leverage that popularity to fund your life overseas. Whether you see
yourself overseeing a few acres of coffee farm, or bringing the perfect cup of joe to a
new community, there’s profit to be made from this valuable little bean.
One of the easiest ways to make a profit with coffee—and for coffee lovers to enjoy a
satisfying and fun endeavor—is to open your own coffee shop.
Set up a
Consignment
Store
Consignment shop owners face stiff competition in North America, but in many other
countries these kinds of bargain outlets are few and far between.
Setting up a reselling business has many advantages. Financial risks are low as the
investment doesn’t include buying stock, and you can easily test your market with a
“pop-up” store—running for just a week or two—before signing a commercial lease or
even buying property.
Consider
Ecotourism
Savvy locals and expats have been cashing in on the tourism industry for years,
especially in regard to ecotourism. With an increasing number of folks showing interest
in responsible traveling and a desire to learn about the native environment of a place,
ecotourism has exploded in popularity.
Hairdressing
If you’re moving overseas with skills that already exist in your new home, don’t assume
you won’t be able to compete with local prices. You might be pleasantly surprised by
the level of expat demand for expat services—even if locals also do the job.
Become a Wedding
Planner
Training and certification classes are available, primarily online, but the best way to
become a wedding planner is through experience.
Try Farming & Live
Off the Land
Farming can be one of the most fulfilling lifestyles you can embark on. But many might
dismiss it as too much hard work, or too expensive to get started. In the heavily
industrialized, heavily regulated U.S. that may be true. But overseas there are
opportunities and options that will make it easier than you think to live off the
land…and you can make a tidy sum while you’re at it.
Start a Food Truck
Business
Food trucks have exploded in popularity both in the United States and Canada. And the
concept has found some traction in other parts of the world. The buzz is starting to
grow among locals and expats alike thanks to pioneering food truck owners in
countries like Costa Rica.
Making Blog
Get specific with your topic, and think about your unique perspective. There are tons
of generic travel blogs, but what do you have to offer to set yours apart. Is it luxury
travel or budget travel? Do you have expertise in or live in a specific location? Can you
share advice about activities you do while traveling, like hiking or shopping?
The more specific you get, the easier it’ll be to attract an engaged audience and to earn
money with your site.
School
It’s possible to give cooking classes in a private home, but it’s easier if you have a
separate facility. In that regard, having a B&B is a good way to start. It’s how several
expats began their cooking schools. First, you already have staff on board and some
sort of kitchen, so you leverage existing assets. B&B kitchen staff, for instance, can
also do basic food prep for cooking classes.
Conclusion
The key to making money while still enjoying your retirement is to do something
that you already love so the hours you spend working seem less like work and more
like play—but the type of play that can pay, too. You never know; your hobby may be
so engaging that it leads to a second career in your second half of life.